Pakistan’s Federal Board of Revenue (FBR) has assured that no mini-budget will be introduced, reaffirming the government’s commitment to maintaining its annual tax target of Rs12,970 billion.
FBR sources have also confirmed that there will be no General Sales Tax (GST) imposed on petroleum products, in line with ongoing negotiations with the International Monetary Fund (IMF).
The IMF has reportedly expressed satisfaction with Pakistan’s recent economic performance, particularly the improvement in the tax-to-GDP ratio, which has increased from 8.8 percent to 10.3 percent—a 1.5 percent rise that the IMF sees as a positive development for Pakistan’s fiscal stability.
The FBR also announced that tax collection on agricultural income will begin next year, marking an effort to expand the tax base and ensure sustainable revenue growth.
Further discussions between the IMF and Pakistani officials are expected, with a focus on reviewing possible adjustments to Pakistan’s trader-friendly schemes.
The FBR highlighted its recent tax collection achievements, noting that Rs12 billion has been collected from the retail sector in the past three months, as part of efforts to meet fiscal goals.
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